May 16 Pancake Trend:

Fluctuation range 102500-104000, 4-hour high drop shows selling pressure.

Indicators bearish dominance (1-hour KDJ death cross, MACD not turning bullish, Bollinger Bands close to the lower track).

Breaking 102500 or probing 101000/95000.

Short-term strategy:

- Rebound at 104500+ short, target 102000-101500;

- Pullback at 102500 stabilize light position long, target 104000-105000.